The Cerros Rojos Property is 50km south of Newmont Gold’s Long Canyon mine in eastern Nevada and 72km west of Kinross's Alligator Ridge deposit and 56km north of its Kinsley Mt. Deposit.
Our team believes that Cerros Rojo’s geology is similar to that of Kinross's Alligator ridge and Newmont's Long Canyon deposit. Cerros Rojos has historical near-surface oxidized gold drill intercepts, that indicate the potential for the emergence of a new ore body. The discovery hole on the Cerros Rojos property intersected 12m @ 0.7 g/t of oxide gold-bearing mineralization starting from the surface. It is believed that the system is structurally controlled, extending along with low-angle structures to the west beneath the overlying Devonian Joana limestone. The initial focus of the exploration will be Carlin-style deposits.
It was also determined that the mineralization at Cerros Rojos is hosted by the Devonian/Mississippian Pilot shale near the contact with the underlying Devonian Guilmette Formation. This geologic setting and mineralization are identical to that of the Alligator Ridge complex of deposits that produced in excess of 5 million ounces of gold.